Israeli 4D imaging radar chipset developer Arbe Robotics has announced the closing of $32 million Series B financing round from Catalyst CEL, BAIC Capital, AI Alliance (Hyundai, Hanwha, SKT), and MissionBlue Capital, and previous investors Canaan Partners Israel, iAngels, 360 Capital Partners, O.G. Tech Ventures, and OurCrowd.
Arbe's 4D imaging radar chipset solution allows high-resolution sensing for ADAS and autonomous vehicles. The Tel Aviv-based company, which also has offices in the US and China, will use the funding to move to full production of its radar chipset, which the company claims generates an image 100 times more detailed than any other solution on the market today. The company, which was founded by CEO Kobi Marenko, CTO Dr. Noam Arkind and COO Oz Fixman, has raised $55 million to date. Arbe has 85 employees including 65 in its Israel development center.
With the new funding, Arbe will focus on expanding its team to support global Tier-1 customers in moving into full production of radar systems based on Arbe's radar development platform.
Marenko said, "With the funds raised, Arbe will continue to deploy to the market a real breakthrough in radar technology that empowers Tier 1 automakers and OEMs to finally replace their legacy chipsets with one that truly meets the safety requirements of NCAP and ADAS for years ahead. In fact, Arbe provides an affordable sensor for mass market implementation that enables Level 3 autonomy without requiring LiDAR. Our technology is the essential component in achieving a fully autonomous vehicle that drives in every environment and weather condition."
Arbe says that the technology it has developed resolves some of today's most pressing radar challenges, which include eliminating false alarms, processing massive amounts of information generated by 4D imaging in real time, and mitigating mutual radar interference. By achieving high-resolution object separation in both azimuth and elevation, Arbe supports safer and more accurate decisions for all levels of autonomous driving.
Published by Globes, Israel business news - en.globes.co.il - on December 17, 2019
© Copyright of Globes Publisher Itonut (1983) Ltd. 2019